7 September 2017 – Expansión
The real estate sector wants to leave behind its shady image and to that end, has committed itself to a more professional style of management going forward. In this sense, the new generation of property developers, controlled by investment funds and banks, are combining the experience of professionals with extensive local knowledge and the financial vision of the providers of capital.
One of the property developers with the most ambitious forecasts is Metrovacesa, which, following a non-monetary capital increase in July, now owns assets worth more than €2,600 million and a portfolio of land spanning more than 6 million m2, ready for the construction of more than 40,000 homes. To lead the project, the real estate company, which is controlled by Santander and BBVA, has recruited Jorge Pérez de Leza (pictured above), who worked for 12 years as the CEO at Grupo Lar.
Neinor, which is controlled by Lone Star, was the first company to try its luck on the stock market, when it debuts on the main exchange in March. The firm is led by Juan Velayos, who was responsible for founding the Real Estate team at PwC and who has led the property developer since the end of 2014.
Värde has placed its trust in the founder of its property developers to lead the project into this new phase. In this way, Juan Antonio Gómez-Pintado – a stalwart of the sector – is captaining Vía Célere, whilst the management team of Aelca comprises Javier Gómez and José Juan Martín Montes.
Meanwhile, Castlelake has chosen David Martínez to lead Aedas. He was responsible for the Cuatro Torres and Valdebebas urban planning projects, amongst others.
Besides these real estate companies, there are several others that survived the crisis, such as Quabit, led and controlled by Félix Abánades, and Realia, owned by the Mexican magnate Carlos Slim, who has put one of his most trusted men, Gerardo Kuri Faufmann, at the helm of that company.
Original story: Expansión (by Rebeca Arroyo)
Translation: Carmel Drake